BECAUSE BFL MISGUIDED ALMOST THE ENTIRE COMMUNITY TO PRE-ORDER FROM THEM BECAUSE THEY THOUGHT THEY WOULD BE THE FIRST TO SHIP.
No, the "misguided" ones are those who thought a relatively new company would meet their first shipping estimate on their first ASIC product.
I know, silly me for believing what BFL told me.
I didn't care when they missed their first shipping date.
I didn't care when they missed their second shipping date.
I got a refund after they missed their third shipping date.
Now I don't care even if they ever ship a product at all.
I just stick around this thread for purely entertainment value... it is like a soap opera, everyone's always so serious. I pop in here and post something to get the other BFL haters going and then eagerly await the blow up reply from Inaba in response to the diatribe. I've got it down to a science.
To not disappoint CoinHunter and to be creative and present something new for Josh:
Minimum wage in Kansas and Missouri is $7.25/hr. Based on that, let's to a little math.
7.25/hr X 40 hours X 26 weeks X 22 employees = $165,880
The $165,880 figure does not include the recent hire of experts to run the new equipment BFL is not planning on using for a while.
Add 7.65% of that sum for FICA. Roughly $12,690, for a new total of $178,570, and we can easily call it $200,000. Double it to take into consideration all the other expenses to date, not counting the FAB. We are now looking at shelling out no less than $400,000, with no more than $100,000 from an unknown VC. If a VC did give more than a hundred grand, then I have to concede that Josh knows a moron when he sees one.
Here's my question. Is it possible that BFL profited $300K from product actually delivered? If they did, fine. But how is the FAB being paid without touching pre-order monies? Think about it!
And somebody else ask him to see BFL's bank statement, for I don't want to be chastised for doing such.
Feel free to figure your own best and worse case scenarios as to what came in and what went out. See if you can safely say that no pre-order funds have been touched, and if the company goes under, they will be able to refund every cent in a timely manner without having to go into liquidation, thus having everybody wait for a full refund.
I'm now on record in stating that it can't be done without tapping pre-order funds.
Full disclosure: I once grossed over a million dollars three years running as a drywall contractor. This year I will gross just under a mil as a supplier of 100+ year old musty smelling rotten barn wood. I guess that makes me a failure, but I'll try harder next year (to gross a mil, not be a failure--disclaimer provided to not cause Josh to ponder what I
Ming mean).
~Bruno K~